Use the Exact Method (365 Days) and the Ordinary Interest

question 110

Short Answer

Use the exact method (365 days) and the ordinary interest method (360 days) to compute the amount of interest for the following loan, rounding to the nearest cent: $$\begin{array} { l l l l l } \text { Principal } & \text { Rate } & \text { Time } & \text { Exact Interest } & \text { Ordinary Interest } \\\$ 40,000 & 14 \% & 100 \text { days } &\end{array}$$

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Definitions:

Internal Locus

The belief that one controls their own destiny and outcomes are the result of one's own efforts.

Experience Stress

The physical or emotional strain felt as a result of challenging or demanding circumstances.

Cope Effectively

The ability to manage personal and professional challenges in a way that is healthy and productive.

Stress Management

A set of techniques and programs intended to help people deal more effectively with stress in their lives by analysing the specific stressors and taking positive actions to minimize their effects.